New Agreement to boost Free Zones in Dubai

Dubai is a global hub for many businesses around the world. Dubai’s Free Zones are indeed the top jurisdictions to register the business. Recently signed agreement between World Free Zone Organization and Council will bring new opportunities and framework to Dubai Free Zones.

Sheikh Ahmed bin Saeed Al Maktoum, Chairman of the Dubai Free Zone Council, and Dr Mohammed Al Zarooni, Chairman of the World Free Zones Organization, have signed a memorandum of understanding to establish a framework for cooperation in exchanging expertise and knowledge. Within the framework, Dubai Free Zones will have seminars and courses to develop the internal work. The council will promote the membership of WFZO and host the 4th and 6th editions of the WFZO’s annual conference and exhibition in 2018 and 2020. The event will be held from 30th April to 2nd May 2018. The theme of the conference will be ‘10x Free Zones: The road to prosperity’. Participants will include global free zone leaders, experts, and representatives.

The signing of the agreement will facilitate both council and the organisation to establish support to free zones, which in turn will increase the contribution to economic development at all levels including local, regional and international. Currently, the Dubai Free Zone Council plays a significant role in supporting all government and private sector initiatives to enhance Dubai’s position as a global hub for foreign direct investment.

In addition, Sheikh Ahmed bin Saeed Al Maktoum noted the importance of the signing of the memorandum of understanding given the forward-looking initiatives launched by the World Free Zones Organization – including a free zones Executive Education Program which will drive the process of building knowledge and innovation in the management of free zones. The program is designed in conjunction with IESE Business School, which is at the forefront of executive education according to the Financial Times 2017.

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